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Tesla stock hits record high

Shares of Tesla Motors shot up to a record high Monday after China's finance ministry announced higher than expected subsidies for electric cars bought there. Shares of Tesla shot up as high as $196, before easing off those highs later in the day. That topped the previous record set September 30. Shares of Chinese electric carmaker BYD, in which Warren Buffett's Berkshire Hathaway has taken a stake, were also higher in trading in China and the United States. Tesla's stock had fallen off its previous high by as much as 40% in late November, following reports of some Tesla Model S' having fires when involved in accidents.